GW Pharmaceutical PLC (NAS:GWPH) shares rallied Monday after the cannabis-based medicine company forecast better-than-expected sales of its seizure treatment Epidiolex. U.S. shares of GW surged 7.4% to $115.44 in recent activity. The company said it expects fourth-quarter revenue of about $108 million for the fourth quarter and about $309 million for the year. Analysts surveyed by FactSet estimate revenue of $102.4 million for the fourth quarter and $304.6 million for the year, up from a previous estimate of $100.2 million for the quarter and $302.1 million for the year. The company expects Epidiolex sales of about $104 million for the fourth quarter and about $296 million for the full year. "Our fourth quarter and full year results for 2019 reflect an exceptional launch year for Epidiolex," said Justin Gover, GW chief executive, in a statement. "Our goal in 2020 is not only to continue to drive Epidiolex growth but also to leverage our world leadership in cannabinoid science to advance our pipeline."
Jan. 13, 2020, 12:48 p.m. EST